The study looked at how emerging markets move together and what factors influence their connections. They found that trading with wealthier countries has a bigger impact on how emerging markets move than trading with other emerging markets. The health of an economy, investment, and market depth also play a role in how emerging markets move together. Even though recent financial crises made emerging markets move more closely together, not all countries were affected in the same way. The study suggests that investing strategically in certain emerging markets can help reduce risks and increase gains, even during crisis periods.